US oil hovers above $100 despite higher supplies
New York - SPA
The price of oil remained above $100 a barrel Thursday as traders held positions after a surge the day before despite a larger-than-expected increase in oil supplies, AP reported. Benchmark U.S. crude for May delivery was up 1 cent to $100.27 at 0750 GMT in electronic trading on the New York Mercantile Exchange. It jumped $1.07 the day before. Brent crude, a contract for international varieties of oil, fell 15 cents to $106.89 on the ICE exchange in London.
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